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Kuwait, UAE, Qatar pledge 450 mln dlrs to climate fund

by Staff Writers
Riyadh (AFP) Nov 18, 2007
Leading global oil producers Kuwait, the United Arab Emirates and Qatar pledged 150 million dollars each on Sunday to a new fund to tackle global warming.

The creation of the fund, which is now worth 750 million dollars, was announced by Saudi Arabia's King Abdullah on Saturday at the opening of the OPEC summit in Riyadh.

"Kuwait announces it is donating 150 million dollars to support this programme," Kuwait's emir Sheikh Sabah al-Ahmad al-Sabah was quoted by KUNA as saying during the summit.

The UAE donation was announced through its official WAM news agency after the end of the summit.

Qatari energy minister Abdullah bin Hamad al-Attiyah told AFP the emir of his state, Sheikh Hamad bin Khalifa al-Thani, had also contributed 150 million dollars to the fund.

Saudi Arabia, the world's biggest oil exporter, said it would invest 300 million dollars in the fund which is set to focus on finding technological solutions to the climate change problem.

According to the final summit statement, OPEC leaders will insist on the importance of technology to enable the use of "clean oil," notably carbon capture and storage, to help fight global warming.

"We insist on the importance of clean technologies for the protection of the world's environment and insist on the importance of developing technologies that can help combat the problem of global warming, such as carbon sequestration," said an Arabic copy of the statement translated by AFP.

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